Recently, Guj RERA has issued an Order no. 56 dated 09th November 2021 to re-introduce a “One Time Voluntary Compliance Scheme” (VCS-2021). Promoters of Real Estate Projects registered with Guj RERA are required to file their Quarterly Progress Return (QPR). If QPR is not filed within due dates then as per Order no. 7 of Guj RERA dated 15.02.2018, Promoter has the option to pay the processing fees of Rs 10,000/- and file the QPR within one month from the date of “Re-opening of Quarterly Returns in Promoter login”
If the Promoter does not file QPR even within such extended time limit, then such non-compliance is an offence and prosecution can be initiated as Section 61 & 63 of the Act against the promoter. However, as per Order No. 56 issued by Guj RERA, the promoter will get a remedy from prosecution under RERA if they opt for VCS 2020-21. The details of the Scheme are as under: –
1. Who is eligible for the Scheme under order no. 56 issued by GUJ RERA?
The scheme is applicable to the promoter who has defaulted in filing QPR on Guj RERA portal within the due dates or extended timelines.
2. What period of non-compliance is covered under the Scheme?
A defaulting promoter is permitted to file his QPR’s due for filing till 09.11.2021. Therefore if the due date of QPR is falling after 09.11.2021 then the VCS scheme does not apply to such returns
3. How can Promoter opt for VCS-2021 scheme under GUJ RERA?
The defaulting promoter will receive email communication on the registered email id with GUJ RERA. The format is prescribed by GUJ RERA to file QPR by such defaulting promoter. The filing can be initiated after the payment of prescribed processing fees.
4. How much Processing fees are to be paid by defaulting to opt of VCS-2021?
The processing fees are based on Estimated Project Cost. If the estimated project cost is: –
1. Less than 25 Crores then the Processing fees is Rs 25000/-.
2. More than 25 Crores and up to 50 Crores then the processing fees is Rs 50,000/-
3. More than 50 Crores and up to 100 Crores then the processing fees is Rs 1,00,000/-
4. More than 100 Crores then the processing fees is Rs 1,50,000/-
5. What is the benefit of opting for VCS-2021 scheme?
If the promoter opts for VCS scheme then the prosecution under Section 61 or 63 of RERA Act will not be initiated and if already initiated, then it will be withdrawn by the Secretary.
6. Till which date the scheme can be opted by the Promoter.
The Promoter can opt for the Scheme up to 31.12.2021.
This is not the first time wherein GUJ RERA has given an opportunity to the defaulting promoter to opt for the VCS scheme. Various VCS scheme has been notified by GUJ RERA giving remedy to the Promoters. All the defaulting promoter shall take note of the VCS scheme as various suo-moto order has been passed GUJ RERA for non-compliance of Quarterly return and a penalty as high as Rs 1,25,000/- has been charged.